ROLE OF INFRASTRUCTURE IN ECONOMIC DEVELOPMENT OF INDIA
Harshit Kumar Srivastava
Economic development refers to the economic transformation of a country or a region that leads to improvement of well being and economic capabilities of its residents. Economic development is different from economic growth as growth mere focuses on expansion of activities which is suitable for developed economies. However economic development is concerned with structural change in economy. Economic growth without economic development creates inequality. The development of various sectors in any country depends on large extent on infrastructure of the country. Infrastructure is basic physical and organisational structure needed for the operation of an economy or an enterprise. As infrastructure plays a significant role in economic development, it has been accorded high priority in various five year plans of the country. Overtime remarkable improvement is witnessed in India, but much more remains to be done. This paper assesses the contribution of infrastructure in development of the country. Development and infrastructure has been analysed in terms of multiple indicators.
KEY WORDS: Economic growth, economic development, infrastructure, per capita income, poverty ratio, literacy rate, infant mortality rate, teledensity etc.